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Sep 28, 2012
09/12
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we're certainly in a slow growth environment. and as dan said, it looks like the indicators are consistent with 1, 1.5, 2% gdp growth. >> let me ask it a different way then. gdp revised down. durable goods stunk. you saw the pmi number we brought up. are you more nervous today than you were five days ago? >> no. i think the numbers have been a little bit ugly. but i think they are again consistent more with that slower growth at this point in time. there are a lot of concerns out there, but not necessarily indicative of recession yet. >> well throw us some names then, brian, you're a mid cap guy so within the mid cap universe which names do you think fit the bill that can still grow their earnings that slow growth environment? >> mandy, one of the companies we like right now is a company called asena retail. it actually is a pretty direct play on that slow growth environment. they are a women's fashion retailer. most people know them for dress barn and maurice's but they recently have added brands like justice and lane bryant to
we're certainly in a slow growth environment. and as dan said, it looks like the indicators are consistent with 1, 1.5, 2% gdp growth. >> let me ask it a different way then. gdp revised down. durable goods stunk. you saw the pmi number we brought up. are you more nervous today than you were five days ago? >> no. i think the numbers have been a little bit ugly. but i think they are again consistent more with that slower growth at this point in time. there are a lot of concerns out...
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Oct 3, 2012
10/12
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it is really the exchange's responsibility here to kind of police the environment that we have right now that's unfavorable for investors. take i think the exchanges it the right thing. they quickly canceled the trades that needed to be canceled. but let's understand these are exchanges that are making money in this environment, they're paying rebates to co-locate. i think the conversation begins with the exchanges themselves. >> but where is the liquidity in the marketplace? i'm not defending high frequency, but a lot of stuff is in these dark pools. i was talking with an nyse rep. where is all the liquidity that we talked about? where are the people that own these stocks? where are the top ten holders? everyone is so concerned about anonymity, they don't want to show whatever they have. >> you know what the problem srk the sorry will be written that the rules worked in this case. the problem is we don't know what caused this and we don't know what caused almost every other incident that has happened in the market over the last several years. >> it's called top of book protection. y
it is really the exchange's responsibility here to kind of police the environment that we have right now that's unfavorable for investors. take i think the exchanges it the right thing. they quickly canceled the trades that needed to be canceled. but let's understand these are exchanges that are making money in this environment, they're paying rebates to co-locate. i think the conversation begins with the exchanges themselves. >> but where is the liquidity in the marketplace? i'm not...
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Sep 30, 2012
09/12
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there are a lot of places to make money in a near zero interest rate environment. >> the low interest rates which the federal reserve told us are going to be that way until 2015 are also hurting savers. >> they absolutely are. it creates inflation risk. yes, people are being penalized. the return they get, if they're investing their savings someplace safe, the return they're getting is not keeping pace with inflation. every year they're losing money. and so, of course, that creates incentives to go and invest in riskier assets. that's what we had with the crisis. we had very low interest rates then. not nearly as low as they are now. people were looking for return with subprime mortgages. it creates incentives which create significant risk for the system. i think the fed is proceeding with the best of intentions. i think the risks of what we're doing are tremendous and the benefits are incremental at best. >> it's been about the fed providing all the stimulus. what kind of fiscal policy would you like to see? >> the solutions are not hard. it's having the political will to do that. ne
there are a lot of places to make money in a near zero interest rate environment. >> the low interest rates which the federal reserve told us are going to be that way until 2015 are also hurting savers. >> they absolutely are. it creates inflation risk. yes, people are being penalized. the return they get, if they're investing their savings someplace safe, the return they're getting is not keeping pace with inflation. every year they're losing money. and so, of course, that creates...
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Oct 1, 2012
10/12
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so we need to see a lot of changes in the regulatory environment to allow that to happen. in the meantime, we did see a lot of consolidation continue to happen within regions like latin america, like north america, like europe. and asia is a bit more difficult because you didn't have common market like you do in europe. joint ventures and partnerships, so some benefits can be realbut still doesn't really allow for that. >> it's not the same as doing the full monty. brendan, thanks for that. good to see you. just a quick programming note. tomorrow we will bring you a first on cnbc in an interview with the director general, he will be joining us on cnbc. i'm not sure if he's on "worldwide exchange." anyway, on the agenda in asia tomorrow, australia central bank is holding its policy meeting, widely expected to cut rates, but analysts are pretty divide order whether they'll pull the trigger tomorrow. retail sales figures, also. still to come, the mining boom in mongolia has fueled one of the fastest growth rates. more in our trade links special next. bob... oh, hey alex. just
so we need to see a lot of changes in the regulatory environment to allow that to happen. in the meantime, we did see a lot of consolidation continue to happen within regions like latin america, like north america, like europe. and asia is a bit more difficult because you didn't have common market like you do in europe. joint ventures and partnerships, so some benefits can be realbut still doesn't really allow for that. >> it's not the same as doing the full monty. brendan, thanks for...
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Oct 2, 2012
10/12
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the consumer environment has been choppy and they can respond quickly to that. >> if you like family dollar can you speak to the margin as they sell more lower end products how do they recover and compare and contrast that to dollar general which has margin upside? >> well, they are selling more food and other consumables. they have been adding additional items into the store. it has put pressure on gross margin. they are using that strategy to drive traffic. that brings customers in day in and day out. they do have the lowest margin in the dollar store sector around 7.5%. dollar general is north of 10%. i think that is the real opportunity for family dollar. they can do things to offset the pressure. they can do more private label. they can do more global sourcing and manage the store better, as well. >> going to leave it there. thanks for your time. what is your retail trade? >> i probably stick with target or kohl's store. if you look at the fiscal cliff. there is a $610 billion impact. 400 billion comes right out of consumer pocket. if you have less money i get the trade but stic
the consumer environment has been choppy and they can respond quickly to that. >> if you like family dollar can you speak to the margin as they sell more lower end products how do they recover and compare and contrast that to dollar general which has margin upside? >> well, they are selling more food and other consumables. they have been adding additional items into the store. it has put pressure on gross margin. they are using that strategy to drive traffic. that brings customers...
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Oct 3, 2012
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the environment has also swung back a little bit towards the old hey day. does that mean the approach by private equity firms is also changing back to the more traditional mcdonald snell. >> no, i don't think so. i think the model is permanently changed. you can't buy cheap gear highly and sell deer anymore. they produce better performance, improve profits, expand the geographies that they work in and so on. so i think the model is permanently changed. the odd example of maybe pure engineering. i think fundamentally it's now about being good stewards of the businesses and improving them while you own them. >> appreciate your time. thank you so much for stopping by. >>> the european banking authority will publish its final report on banks' implementation of capital plans at 1,700 cet today. this follows s a 2011 recommendation to restore market confidence. it will be published after the european markets close. joining us now is the head of the european interest rates strategy at barclays. nice to have you onboard with us today. this has been an ongoing theme
the environment has also swung back a little bit towards the old hey day. does that mean the approach by private equity firms is also changing back to the more traditional mcdonald snell. >> no, i don't think so. i think the model is permanently changed. you can't buy cheap gear highly and sell deer anymore. they produce better performance, improve profits, expand the geographies that they work in and so on. so i think the model is permanently changed. the odd example of maybe pure...
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Oct 3, 2012
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i know you prefer stocks to bonds in this environment. let me take the other side and say we have global quantitative easing. wouldn't it be better doing what the central banks are doing and getting the capital appreciation? >> we don't disagree. certainly we want to be in line with what the central banks are doing. if the treasury bond is buying treasuries it is good to be a treasury holder. what is going to happen when the central bank buying turns off? we think stocks are going to be well positioned in a modern inflation environment. and the bigger risk, deflation is a very probability. a bigger risk is higher inflation in the future in which case cash and bonds do poorly. we need to be in gold and commodities and real assets. we are building our portfolios to reflect the probability of these different destinations. our biggest scenario is one of moderate inflation and equity should be the class to hold. >> i want to go to two more of your picks. logitech and aia. that is not a name we usually talk about. what is the thesis here? >> it
i know you prefer stocks to bonds in this environment. let me take the other side and say we have global quantitative easing. wouldn't it be better doing what the central banks are doing and getting the capital appreciation? >> we don't disagree. certainly we want to be in line with what the central banks are doing. if the treasury bond is buying treasuries it is good to be a treasury holder. what is going to happen when the central bank buying turns off? we think stocks are going to be...
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Sep 28, 2012
09/12
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goldman sachs says the current downsizing environment increases the potential for m & a activity. with the clock ticking down to fiscal armageddon, expect defense companies to send out layoffs after the holiday. that's your q-4 channel check for defense. i'm jane wells. >> all right. so let's dig deeper into which defense stocks could feel the biggest impacts if we go off the fiscal cliff. >> joining us is jeremy devaney. do you think we'll see those sequestration cuts in defense next year, $55 billion? >> good afternoon, bill. thanks for having me on. yes, we definitely think the fiscal cliff is coming, especially the sequestration cuts or the budget cuts for the defense department. right now the polarization up on the hill is not allowing for any movement in legislation to resolve that issue. >> all right. so let's talk about sort of breaking this down. first off, when are you expecting the defense companies to alert employees that their jobs will be cut? is that october 1st or november 2nd? what's your end date? >> sure. we're looking at november 2nd right now as the real date.
goldman sachs says the current downsizing environment increases the potential for m & a activity. with the clock ticking down to fiscal armageddon, expect defense companies to send out layoffs after the holiday. that's your q-4 channel check for defense. i'm jane wells. >> all right. so let's dig deeper into which defense stocks could feel the biggest impacts if we go off the fiscal cliff. >> joining us is jeremy devaney. do you think we'll see those sequestration cuts in...
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Sep 28, 2012
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we're in an environment where mierns have a lot of trouble getting financing. lenders aren't lending them money. they need more capital. take advantage of this high gold price. that's where sandstorm comes in they will give a gold miner immediate money up front in exchange for the percentage of the future gold produced. in essence buying themselves a piece of the production stream. they also make a fixed ongoing payment for the gold they receive ooe down the road. that payment is incredibly low, usually around $500 an ounce. gold is worth about $1700 an ounce. why don't you think of sandstorm being a smaller version of a stock that blew my mind when they came on the show, franklin nevada. that's another company that invests in gold royalty streams who's ceo opened my eyes to this whole concept. since then the stock has risen 13% in three weeks. franklin nevada was a buy after they came on. sandstorm is so much smaller than franklin nevada or real world which is the other big player. the company can focus on taking down smaller deals that the big boys wouldn't b
we're in an environment where mierns have a lot of trouble getting financing. lenders aren't lending them money. they need more capital. take advantage of this high gold price. that's where sandstorm comes in they will give a gold miner immediate money up front in exchange for the percentage of the future gold produced. in essence buying themselves a piece of the production stream. they also make a fixed ongoing payment for the gold they receive ooe down the road. that payment is incredibly...
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Oct 2, 2012
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let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was apple. you mentioned it. we were looking for support on the stock at around 650. wouldn't you know it, it hit their intraday lows. they don't want to see that stock drop. the interesting thing with that is, you know, apple is a bell weather that's really driving the nasdaq 100, driving a lot of these larger cap benchmarks we follow. if you keep that buoyed, you're going to keep the markets buoyed going forward. >> that's a really good point. i guess, david, for those fund managers who have not owned apple, they're going to be playing catch up fourth quarter so their fund looks better by year end, right? >>
let's get straight to the markets and talk about investing in this environment. gentlemen, good see you. thank you so much for joining us. dan, let me kick this off with you. what do you think happened at end of the day today? seems this market has been trading on some worries last several sessions. yet, we did see some optimism at end of the day. >> absolutely. it's a case of perhaps, you know, still do not fight the fed. what we were watching specifically was apple. you mentioned it. we...
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Oct 2, 2012
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>> i think it will struggle to weaken in an environment where we have u.s. federal reserve embarking on what's likely to be an open-endeded quantitative easing program. i think in an environment like that, we're likely to see carry trades continue to be popular, the u.s. dollar to weaken. and partly that's because they have removed a lot of tail risks around a sharp slowdown in global growth, although we're not seeing that just yet. >> i suppose if it doesn't weaken a huge amount, it does help the rba out in terms of its inflation target, right? >> yes, it does. that is one thing that a higher currency will do will keep your import prices low. however, i think the rba have been somewhat frustrated that the exchange rate, australian dollar hasn't acted in its normal way as a buffer against lower global prices for australia's commodities. >> we've had the resources minister saying the mining boom is over. he said these comments a couple times now. if there is a structural shift going on in china as jim was saying earlier and we are now, you know, moving away t
>> i think it will struggle to weaken in an environment where we have u.s. federal reserve embarking on what's likely to be an open-endeded quantitative easing program. i think in an environment like that, we're likely to see carry trades continue to be popular, the u.s. dollar to weaken. and partly that's because they have removed a lot of tail risks around a sharp slowdown in global growth, although we're not seeing that just yet. >> i suppose if it doesn't weaken a huge amount,...
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Oct 5, 2012
10/12
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where they only spent one year in a deflationary environment, the s&p just now a mere 7% off its all-time high. and i think these contrasting fortunes of the monetary policy's success will put a great deal of political pressure on the boj and i do think that pressure for some extreme or unconventional monetary measures next year will definitely be there. >> so what impacts? >> well, i think the most immediate impact that traders would like to see is a higher dollar-yen. i think they would certainly -- the thourts in japan would certainly like to see a higher dollar-yen dollar yen has been on a down trend for the last five years and there are many traders and fund managers that have tried to pick the bottom and go long dollars and really come on stock, particularly in the early part of this year. so i think in the very near term, dollar-yen is still going to trend lower. however, we just need to see, you know, that change in policy and more urgency from the boj which could happen in the months ahead. >> for dollar-yen to strengthen, do you need treasury yields to back up? >> you need two t
where they only spent one year in a deflationary environment, the s&p just now a mere 7% off its all-time high. and i think these contrasting fortunes of the monetary policy's success will put a great deal of political pressure on the boj and i do think that pressure for some extreme or unconventional monetary measures next year will definitely be there. >> so what impacts? >> well, i think the most immediate impact that traders would like to see is a higher dollar-yen. i think...
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Oct 4, 2012
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clearly those industries would be operating under a very different environment. >> don i'm going to ask you the same question? do you have a different investment strategy and president obama than president romney. >> complete fork in the road. this is a no-brainer. you don't even have to drill down to the sector level. all about the fiscal cliff. if romney is elected president, we're not going to have a short-term fiscal cliff problem because he's not going to veto extending the bush tax cuts. and the republicans aren't going to give him so hard a time hiking the debt ceiling. if obama is elected, he has said over and over he will veto any extension of the bush tax cuts that includes extending the tax cuts for the rich. the house, on the other hand, insists on all the tax cuts being extended. if they can't agree, all tax cuts go away. 5% of disposable personal income is ripped from the economy. the republicans take their vengeance by not raising the debt ceiling. we are back in a great recession mid january. which this country can't take. we can't take it. >> we've wasted all our recove
clearly those industries would be operating under a very different environment. >> don i'm going to ask you the same question? do you have a different investment strategy and president obama than president romney. >> complete fork in the road. this is a no-brainer. you don't even have to drill down to the sector level. all about the fiscal cliff. if romney is elected president, we're not going to have a short-term fiscal cliff problem because he's not going to veto extending the...
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Oct 2, 2012
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technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. boring. boring. [ jack ] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] you.piano ]nnouncer ] get more access with the citi card. we know you. we know you're not always on top of it. and how could you be? that often you just want... quiet
technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. boring. boring. [ jack...
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Oct 6, 2012
10/12
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but if there is one point i must never stop driving home here, owning expensive stocks risky in an environment when chipotle could be down 100 points. remember that day? that day changed my mind. rain in the risk, even if it means the reward will be crimped. unlike the movies, in real life, greed is bad. michael douglas and more importantly kirk douglas are huge fans of the show. i met them, i'm not kidding and i can just say as a kirk douglas fan, that's as great as it gets. i would link kirk's book if this were amazon, but it's a tv show. safeway meeting reports on thursday. so many -- this is the quarter. anyway so many people have tried to call the bottom in the stock, and all they have is thousands of shopping cartwheel rots on their backs. i'm thinking safeway will be like the checkout line, ten points or less. whole foods, not even that expensive when you factor in the growth rate. a re-enactment of safeway's quarter. okay. now, after the close thursday and this j.b. hunt transport, the trucking company, i don't spend enough time talking about how the truckers are doing. i'm used to the
but if there is one point i must never stop driving home here, owning expensive stocks risky in an environment when chipotle could be down 100 points. remember that day? that day changed my mind. rain in the risk, even if it means the reward will be crimped. unlike the movies, in real life, greed is bad. michael douglas and more importantly kirk douglas are huge fans of the show. i met them, i'm not kidding and i can just say as a kirk douglas fan, that's as great as it gets. i would link...
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Oct 3, 2012
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this is going to be a challenging environment. mandy, great point. china's deceleration is very important. it's very real. you're seeing that in commodity complex. i think that revenue line is going to be very, very important. that's probably going to come in soft. >> all right. we'll leave it there. thanks, everybody. appreciate your time tonight. we'll keep watching this market and the fundamentals around it. we look now where the big money is eyeing and whether or not foreign money is coming into the u.s. we have henry m henry mcveigh w. tell me what you're hearing. >> the clients with the long-term focus are the ones we traditionally work with. we see opportunities. we have a very big presence in asia. i was just over in hong kong and india. we're finding things to do on the consumer side. i would tell you, i do think the chinese economy in particular, the export economy, is structurally broken. i think that's a big change. i've been going to china since 1995. i think there's a fundamental shift in what's going on. we saw that in the caterpillar
this is going to be a challenging environment. mandy, great point. china's deceleration is very important. it's very real. you're seeing that in commodity complex. i think that revenue line is going to be very, very important. that's probably going to come in soft. >> all right. we'll leave it there. thanks, everybody. appreciate your time tonight. we'll keep watching this market and the fundamentals around it. we look now where the big money is eyeing and whether or not foreign money is...
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Oct 4, 2012
10/12
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in a brand appropriate environment. we think it makes the brand stronger. it's good for us and them. >> one of the things that people get -- don't understand is that the ag complex doesn't all trade up at the same time. some of the food grains did. but cotton has really gotten cheap. you had very high cotton last year. >> yes, we did. >> is this going through gross margins that cotton's come down so much? >> we had real gross margin challenges last year, particularly in our north american denim business. it's a big business for us and could t denim is a cotton based fabric. we lost 400 basis points in gross margins last year. >> gigantic. >> it is gigantic. but we didn't cover all of our cotton costs while we were doing that. this year, it's coming back to us. it showed up last quarter a little bit. it's going to show up for the back half of the year with improved growth margins. >> one of the things we're going to start hearing is that instead of currency being a headwind, it might be a tailwind. did you calculate 1.28, 1.29 on the euro when you did your l
in a brand appropriate environment. we think it makes the brand stronger. it's good for us and them. >> one of the things that people get -- don't understand is that the ag complex doesn't all trade up at the same time. some of the food grains did. but cotton has really gotten cheap. you had very high cotton last year. >> yes, we did. >> is this going through gross margins that cotton's come down so much? >> we had real gross margin challenges last year, particularly in...
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Oct 2, 2012
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reit, one that sports a yield, exactly the kind of dividend stock you want in this low interest rate environment. it's rallied since the beginning of the year, but lately it's pulled back three points. it could be giving you a good entry point here. first though, before making any decisions let's take a closer look with the chairman and co-ceo of prologis. brand new guest, brand new name. welcome to "mad money." >> nice to meet you. >> first, you just have the biggest building portfolio i've ever seen. it's global, right? just giant. >> it is pretty big and it's pretty good, which is more important, right? >> the reason i asked, normally i like to have real estate investor guys on because they know the tenor of the united states but you have huge exposure. in your most recent conference call you actually talk about -- what it's like in japan, china, brazil, canada. mexico. and these are doing very well. >> they are indeed. we're in 21 countries and with the exception of a few countries in europe, the rest of the world is actually doing pretty well. including some of the places in europe and nort
reit, one that sports a yield, exactly the kind of dividend stock you want in this low interest rate environment. it's rallied since the beginning of the year, but lately it's pulled back three points. it could be giving you a good entry point here. first though, before making any decisions let's take a closer look with the chairman and co-ceo of prologis. brand new guest, brand new name. welcome to "mad money." >> nice to meet you. >> first, you just have the biggest...
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Oct 1, 2012
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compared to a lower corporate tax environment is $ billion. it's a tough sell to be patriotic and have that facility in the u.s. cut the corporate tax rate down to a competitive level. i think technology will continue to advance. the problem is keeping the good ideas in the u.s. and create jobs. >> it can happen in spite of things or you can help or be sort of in the way? >> or you can facilitate for an economy which is growing. what we do with foreign graduate students, taxpayer money pays to educate them to get thai masters and ph.d.s and tech topics and our immigration policy says go home. it's a brilliant philosophy. >> you said the growth in intel will be abroad. whatever the tax policy is, i imagine you have to go abroad on manufacturing and engineering. you want to go to the customer. even if we get the rate right which we all want to, what is the ultimate impact? >> you obviously want to have a balance. you look at a company like intel the bulk of it's manufacturing still in the u.s., the bulk of its r&d is in the u.s. and the bulk of
compared to a lower corporate tax environment is $ billion. it's a tough sell to be patriotic and have that facility in the u.s. cut the corporate tax rate down to a competitive level. i think technology will continue to advance. the problem is keeping the good ideas in the u.s. and create jobs. >> it can happen in spite of things or you can help or be sort of in the way? >> or you can facilitate for an economy which is growing. what we do with foreign graduate students, taxpayer...
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Sep 28, 2012
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stock picking environment. >> is it a stock pickers market? that rant really been the case. >> playing the indices. >> spanish ten year tells you what will happen, but do you think that's still the opportunity to identify strong be investments? >> if you're looking at cross sectional volatility, you're seeing correlations coming down. so you can asset allocate. so there are differences between names, balance sheets. if you look in europe, there are great companies in europe. selling at a significant discount on the continent. >> you've jeust been in spain ad we're waiting to see how much more money they have to pump into the banks. what's your takeaway from that trip in terms of how it influences your thoughts? >> i was in the south end, remarkably peaceful. the demonstrations that were in madrid, i did not see in the south. but there's a real sea change now in europe and you can feel that in spain, as well. they know they're moving into something good. so i think it will be very, very interesting how that will roll out. >> steve, thanks for t
stock picking environment. >> is it a stock pickers market? that rant really been the case. >> playing the indices. >> spanish ten year tells you what will happen, but do you think that's still the opportunity to identify strong be investments? >> if you're looking at cross sectional volatility, you're seeing correlations coming down. so you can asset allocate. so there are differences between names, balance sheets. if you look in europe, there are great companies in...
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Oct 4, 2012
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and it's part of, you know, that understanding of the macroeconomic environment. did influence our guidance for 2013. it's very much a factor that, you know, is on my mind. we have a big exposure to europe. some of the markets in europe are our strongest markets. we have very big shares. and so we had to take that into account as we gave guidance for 2013. so we took into account the macroeconomic environment, the market changes that are under way, the challenges we have internally, and the products that we're bringing to market and, said, you know, what do we think is a reasonable achievable goal that will allow us to make the investments that will set this company up for a great 2014 and beyond. >> meg, is hp simply too big still? you mentioned during this interview, 320,000 employees. it's almost amazing to think a company with less than a $30 billion market, of course, you have a huge revenue line as well. you have 2100 different skews of laser printers. is the scale simply large for you to manage and for it to succeed? >> i don't think so. you know, i have no
and it's part of, you know, that understanding of the macroeconomic environment. did influence our guidance for 2013. it's very much a factor that, you know, is on my mind. we have a big exposure to europe. some of the markets in europe are our strongest markets. we have very big shares. and so we had to take that into account as we gave guidance for 2013. so we took into account the macroeconomic environment, the market changes that are under way, the challenges we have internally, and the...
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Sep 28, 2012
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. >> so as you look forward, how do you invest in an environment that looks like we're going to have easy money for a long time? you've kind of changed the typical asset allocation most people go to. >> oh, yeah, it's a crazy world. at oppenheimer we're talking about the new 60/40. people's portfolios are perfectly positioned for the past. they're positioned for 2008. we're still seeing 30 billion a quarter flowing into core bond funds, which are yielding negative in real terms, below inflation. that's madness from our point of view. investors have to understand that the notion of what is safe and what is risky has to be adjusted a little bit. safe doesn't mean securities that have a lot of interest rate risk and no yield. that is not what safety means to us today. again, given the plentiful liquidity and what we think is a moderate global recovery, we think it's safe to move out into more credit-oriented investments, more higher income investments. >> high yield corporate? >> high yield continues to look good in our view. it's come that lot but far from how tight it can get. there's
. >> so as you look forward, how do you invest in an environment that looks like we're going to have easy money for a long time? you've kind of changed the typical asset allocation most people go to. >> oh, yeah, it's a crazy world. at oppenheimer we're talking about the new 60/40. people's portfolios are perfectly positioned for the past. they're positioned for 2008. we're still seeing 30 billion a quarter flowing into core bond funds, which are yielding negative in real terms,...
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Oct 1, 2012
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back to you. >>> meantime, on the search for yield in this low-rate environment, jpmorgan's naming one sector that just might give you the fix you're looking for. let's -- let's start over from the beginning. we were just driving along, comin' back from the lake, and all of a sudden, ka-plam. it blindsided us. what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a lot of other stuff in there had the word "aggressive" in it. is everyone okay? well, now, yeah. who knows later. ♪ who knows later. mike rowe here at a ford tell me fiona, who's having a big tire event? your ford dealer. who has 11 major brands to choose from? your ford dealer. who's offering a rebate? your ford dealer. who has the low price tire guarantee... affording peace of mind to anyone who might be in the market for a new set of tires? your ford dealer. i'm beginning to sense a pattern. buy four select tires, get a $60 rebate. use the ford service credit credit card, get $60 more. that's up to $120
back to you. >>> meantime, on the search for yield in this low-rate environment, jpmorgan's naming one sector that just might give you the fix you're looking for. let's -- let's start over from the beginning. we were just driving along, comin' back from the lake, and all of a sudden, ka-plam. it blindsided us. what is it? our college savings account. how do you think it happened? not sure. i think something we bought a while ago turned out to be something else, annnnnd, i remember a...
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Oct 4, 2012
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and an environment that is favorable for business is actually an environment where business will create jobs. how that's going to go over? >> it won't go over well, he hasn't had a real plan so far. these are about real people's lives. he's got a tougher job i think than the president tonight. because most people because of his comments whether he realizes it or not, he's lived a privileged life. and he doesn't understand common workers, what we go through every day. so he's got a tough job to make people let them know that he does understand what they go through. if he can do that, he'll have a good night. if he can't, i don't think the zingers are going to matter. because big problems require big solutions not bumper sticker answers. >> of course we know the relationship between white house and labor has not always been rosy over the last four years. is there something the president also needs to say to impress you? >> again, it's not what he says to me but what really american workers need. and that's a serious, serious commitment and a real plan to create jobs and right the economy.
and an environment that is favorable for business is actually an environment where business will create jobs. how that's going to go over? >> it won't go over well, he hasn't had a real plan so far. these are about real people's lives. he's got a tougher job i think than the president tonight. because most people because of his comments whether he realizes it or not, he's lived a privileged life. and he doesn't understand common workers, what we go through every day. so he's got a tough...
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Sep 28, 2012
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saves time, money, and gas and helps the environment. we'll find out what that is a little later. at optionsxpress we're all about options trading. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e ibd™ subscription when you call 1-888-280-0149 now. optionsxpress by charles schwab. the economy needs manufacturing. machines, tools, people making stuff. companies have to invest in making things. infrastructure, construction, production. we need it now more than ever. chevron's putting more than $8 billion dollars back in the u.s. economy this year. in pipes, cement, steel, jobs, energy. we need to get the wheels turning. i'm proud of that. making real things... for real. ...that make a real difference. ♪ for real. ...that make a real difference. i've got two tickets to paradise!l set?
saves time, money, and gas and helps the environment. we'll find out what that is a little later. at optionsxpress we're all about options trading. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e...
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Oct 5, 2012
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>> think the baseline for us is essentially more of the same, but in an environment in which earnings are still pretty good and interest rates are still very, very low. i think the baseline forecast does support higher equity prices from here. i do think it's quite bimobile. i think that the alternative scenario to the baseline is one that's significantly worse because we do get a much bigger hit from the fiscal side, but on the baseline, it's supportive. >> i'm really quite confused here and the economy created 114,000 jobs and there's so much noise about the various aspects of the survey. and i'm not sure. 114,000 jobs create side bad, isn't it? that's very, very disappointing. >> it's lackluster, i would say. >> don't we have to -- typically say we have to generate 200,000 to deal what's happening with the population. isn't that usually where we are? why are we not there today? >> to keep the unemployment rate stable you need about $100 and the participation doesn't change. anything over 100,000 will push it over time. under 14 it would be extremely slowly so that is bad and, you k
>> think the baseline for us is essentially more of the same, but in an environment in which earnings are still pretty good and interest rates are still very, very low. i think the baseline forecast does support higher equity prices from here. i do think it's quite bimobile. i think that the alternative scenario to the baseline is one that's significantly worse because we do get a much bigger hit from the fiscal side, but on the baseline, it's supportive. >> i'm really quite...
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Oct 2, 2012
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technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male announcer ] alka-seltzer plus. ♪ oh what a relief it is! ♪ [ male announcer ] try new alka-seltzer plus severe allergy to treat allergy symptoms, plus sinus congestion, and pain. and those w
technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. i have a cold... i took...
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Oct 4, 2012
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and until you have certainty, i think you'll have what feels like a very flat environment. >> i hesitate to call it the new normal other than i do believe is that a new nbc show that i could plug quickly? isn't it a new -- hell of a show. and it allowed -- helped us win the sweeps. >> do you watch "mad men"? >> i haven't yet. is that based on you? you're much better looking and that guy. >> joe, if i was better looking than jon hamm, i'd be in your seat. >> very subjective. and to me, you are. >> that's why we have this mutual admiration society. but it is an unbelievably good show and sort of a reflection of what advertising was like in the 60s and 70s. >> but it also is a reflection of how we -- the shows that i am absolutely addicted to, i watch when i want. boardwalk empire or homeland or -- >> if you watch the newsroom or suits, they are great. those two are superb. >> and that's what worries me because these are nudity and language and all that, and i'm wonder can go a network compete. but maybe this revolution is -- i grot ot to check it out. >> one of the things we talked about l
and until you have certainty, i think you'll have what feels like a very flat environment. >> i hesitate to call it the new normal other than i do believe is that a new nbc show that i could plug quickly? isn't it a new -- hell of a show. and it allowed -- helped us win the sweeps. >> do you watch "mad men"? >> i haven't yet. is that based on you? you're much better looking and that guy. >> joe, if i was better looking than jon hamm, i'd be in your seat....
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Oct 3, 2012
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dropped by about a third from precrisis levels, basically small businesses are just not growing in this environment and big businesses are chasing profits abroad. so the government is just not getting the tax take on that front. in the asset classes, you can see some of the levels not that good at the moment. bundes still attracting a lot of attention. we've been waiting on spain to fishlgly l-- officially ask fo that aid. nonetheless, we're not seeing too much pressure on the periphery, 5.75%. let me send it back to you. >> thank you very much. the first presidential debate. john harwood is on the ground in denver. he joins us with the latest nbc news "wall street journal" poll. it looks like things are starting to even out at least a little. is this the bounce that president obama got after the democratic convention coming back down? >> well, i think it's the bounce from the convention and the surge that he got on top of the convention with that 47% video, so there is some good news for romney. not only our national poll, but also in the swing state polls that we do with "the wall street journal"
dropped by about a third from precrisis levels, basically small businesses are just not growing in this environment and big businesses are chasing profits abroad. so the government is just not getting the tax take on that front. in the asset classes, you can see some of the levels not that good at the moment. bundes still attracting a lot of attention. we've been waiting on spain to fishlgly l-- officially ask fo that aid. nonetheless, we're not seeing too much pressure on the periphery, 5.75%....